Gold and Silver Rebound as USDX Dips, Crude Gains, Stocks Lead the Way

Gold and silver prices rebounded as the US dollar weakened and crude oil prices rallied modestly. The market is monitoring Fed Chairman Jerome Powell's speech for any hints on US monetary policy. China's consumer and producer inflation slipped into deflationary territory, increasing expectations for more government stimulus. Technically, gold and silver futures have slight overall near-term advantages, but bears have the slight advantage in silver. Copper prices closed higher but bears have the overall near-term advantage.